Chinese manufacturing giant, Huawei, has been at loggerheads with the US over trade restrictions. However, Huawei was given a three months reprieve by the US which expires this August. Nevertheless, recent reports claim that Huawei may get another three months extension. Within this period, Huawei Technologies Co., Ltd. can continue to purchase goods from US companies in order to provide services to existing customers. Huawei's temporary trade license will expire on the 19th of this month.
According to sources, the extension of the license is an important bargaining chip for US-China trade negotiations. However, it is uncertain if the license extension will change before the due date. In May this year, the US Commerce Department included Huawei in its entity list. Subsequently, Huawei got a 90-day temporary trade license to maintain existing telecommunications network customers and provide software updates for its phones. Huawei's temporary trade license may as well get an extension since it expires tomorrow.
On June 29, Donald Trump announced during the G20 summit in Japan that Huawei could resume trade with US companies. The US Commerce Department also confirmed that US suppliers can continue existing businesses with Huawei. According to the Secretary of Commerce, Wilbur Ross, he has received more than 50 applications since the United States relaxed its ban on Huawei.
However, there is no comment from the US Department of Commerce on this news. In less than 24 hours, we will hear the latest news regarding the extension of Huawei's reprieve period.
Place comments
0 Comments
You are currently seeing only the comments you are notified about, if you want to see all comments from this post, click the button below.
Show all comments